ChainCatcher news, according to Jinshi reports, the recently released U.S. personal consumption expenditure data met expectations, and the market is optimistic about the prospect of the Federal Reserve cutting interest rates in December, with gold prices slightly rising in the Asian early session.Analysts from ANZ Research stated in a research report that during the U.S. Thanksgiving holiday, the overall market performance was sluggish overnight, and the commodity market currently estimates a 70% probability of a 25 basis point rate cut in December, up from 56% a week ago.Meanwhile, analysts noted that the geopolitical tensions in Europe have also boosted demand for safe-haven assets following the Russian missile strikes on Ukraine.

ChainCatcher news, after Republican candidate Trump won the U.S. presidential election, gold prices fell. SP Angel analysts stated that the dollar and U.S. Treasury bonds surged due to the election results, weakening the appeal of gold, reflecting market concerns about the inflation policies that a Trump administration might implement. Trump had previously discussed plans to reduce immigration, impose broad tariffs, and cut taxes, all of which could drive up inflation. SP Angel added that gold buyers may also be preparing for a more intense election, but the Republican sweep may have led to the liquidation of such positions. (Jin Shi)

ChainCatcher news, JPMorgan analysts predict that Donald Trump's victory will further boost Bitcoin's momentum, thanks to what they call "devaluation trades" among retail investors.The analysts wrote, "Retail investors seem to be embracing 'devaluation trades' in a more pronounced way, as they purchase Bitcoin and gold ETFs. The impulse of retail investors is also reflected in meme and AI tokens, which have performed exceptionally well in terms of market capitalization."The analysts noted that there has been a sustained inflow of funds into gold ETFs, likely driven by retail investors, while institutional participation in gold futures has also paused. Overall, if Trump wins, retail investors are likely to not only buy risk assets but also further embrace "devaluation trades," suggesting that Bitcoin and gold prices could have additional upside potential in the event of a Trump victory.

ChainCatcher news, according to Cointelegraph, Raoul Pal, founder and CEO of Global Macro Investor, pointed out that as macroeconomic conditions improve, the prices of Bitcoin and gold may rise significantly.In addition, cryptocurrency trader Moataz Elsayed (also known as "Eljaboom") stated that once the price of Bitcoin breaks through the $70,000 mark, it indicates that the bear market is over.

ChainCatcher news, Bitget Research Institute points out that from a macro perspective, the Fed's expectations for interest rate cuts have driven commodity prices up, with gold prices breaking historical highs and BTC rebounding over 60% for a consecutive month. As the U.S. economy may enter a recession cycle, according to the Bank of America Global Fund Manager Survey, the consensus among fund managers predicting a rate decline in 2024 has reached 80%, the highest consensus level ever recorded in the survey. Along with the continuous decline of the U.S. dollar index, Bitcoin's price has continuously broken new highs for the year.On the secondary market level, the total trading volume of the crypto market has increased for three consecutive trading days, with the total market capitalization rising to 1.5 trillion USD. In the past 24 hours, the total liquidation amount across the market approached 200 million USD, with short positions liquidating 155 million USD. The strength of short positions is weakening, leading to a rapid price recovery. Currently, the combination of trading volume and price increase is relatively healthy, and the upward trend is expected to continue. The current market is highly volatile, and attention should be paid to market risks.